Seagate Demonstrates Cutting-Edge Cloud Storage Products in New Quanta Cloud Technology Solution Center

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RBC Capital Cuts Price Target on Seagate Technology (STX) Following Quarterly Pre-Announcement

October 15, 2015 1:01 PM EDT

RBC Capital reiterated an Outperform rating on Seagate Technology (NASDAQ: STX), and cut the price target to $47.00 (from $53.00), following september quarter's pre-announcement. While unit shipments were in-line, the gross margin expectation is well below prior expectations of 27%. STX anticipates revenue of $2.9B, gross... More